Technical Analysis: The Dow Hesitates
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The Dow (first chart below) stalled at the major 9352-9361 resistance level. A break above that would be bullish, and the resilience in the face of profit-taking today was a positive. However, if the index goes down much at all tomorrow, it will fall back out of its March trendline. Next support down is 9150-9180. The Nasdaq (second chart) stalled short of 1700 resistance, but held 1685 support. Next support is 1679, and 1715-1725 and 1727-1747 are resistance. The S&P (third chart) faces resistance at 989 and 997, and the index needs to hold here to avoid a minor breakdown. 980 is next support.